Self-custodial wallet / non-custodial software in Myanmar

Central Bank of Myanmar Warnings (2020/2021 onwards):

The CBM issued a strong warning in May 2020 (reiterated multiple times since, especially after the 2021 coup) stating that cryptocurrencies are not legal tender in Myanmar and that engaging in their use, trading, or mining is illegal. It warned the public about the risks involved, including financial loss, fraud, and money laundering.

Potential for Legal Action: Individuals or entities found to be dealing in cryptocurrencies could face charges under existing financial laws relating to unauthorized financial services, foreign exchange regulations, or potentially even broader laws depending on the specific activities involved (e.g., money laundering if large sums are involved). While specific public enforcement cases leading to conviction often receive less international media attention from Myanmar, the regulatory pronouncements themselves serve as a significant deterrent and official stance.

Whether Adopted: No, it has not been adopted. The Central Bank of Myanmar (CBM) has consistently issued warnings against the use of cryptocurrencies and has stated that they are not legal tender. There is no specific legislation or guidance that enables or regulates Virtual Asset Service Providers (VASPs), let alone implements the Travel Rule.

Penalties for Non-Compliance: There are no penalties specifically for non-compliance with the FATF Travel Rule in Myanmar, as it is not law. However, individuals or entities involved in cryptocurrency activities could face penalties under existing Myanmar laws related to:

Foreign Exchange Management Law: If cryptocurrencies are considered a form of foreign exchange or unauthorized currency, engaging in their trade or use could lead to penalties under this law.

Evidence fact mm.enforcement.central-bank-of-myanmar-cbm not found (may have been renamed).

The Central Bank of Myanmar Directive 9/2020 banning cryptocurrencies remains formally in effect, but enforcement has shifted as the military government proposed the Anti-Online Fraud Bill in 2026 targeting specific crypto-related crimes with penalties of 10 years to life, indicating a move from a blanket prohibition to targeted prosecution of fraud.

Nature of Enforcement: Enforcement under an outright ban is often not through public regulatory fines against entities, but rather through:

No Specific Crypto Enforcement Framework: Since crypto is banned, there isn't a dedicated "crypto enforcement" framework with specific "violation types" and "penalty amounts" distinct from general financial or illegal activity laws.

Post-Coup Environment: Since the February 2021 military coup, Myanmar's financial and legal landscape has become highly opaque. The military junta (State Administration Council - SAC) maintains the ban.

Arrests/Seizures: Individuals found to be trading or using cryptocurrencies might face arrest under general financial laws, anti-money laundering regulations, or even emergency decrees. These arrests are rarely publicized with detailed information, specific penalty amounts, or clear "outcomes" in a transparent legal process that can be sourced.